CEO Don Meij,who started as a Domino’s delivery driver,says he takes full responsibility for the poor results.
Price hikes and delivery fees to offset rising ingredient and fuel costs have hurt the pizza giant’s profits,but investors are confident of its recovery.
Between 65 and 70 corporate-owned stores will close,along with the company’s 27 Danish stores.
A US franchise operator has pumped cash into Domino’s biggest competitor at a time when the chain has struggled to navigate rising costs.
‘Unrecyclable’ discarded pizza boxes are a manifestation of the sustainability challenges facing the fast-food sector,but Domino’s challenges run deeper.
The plight of Domino’s Pizza shows how higher inflation is curbing profits. But some blue-chip companies are profiting handsomely.
Shares in the pizza giant have tumbled after a sharp drop in profit,with boss Don Meij admitting the company “did not get the balance right” after raising prices.
The fast-food chain operator has pressed go on a $165 million equity capital raising to take full control of its German joint venture operations.
It is the king of Australia’s pizza empire,but could ballooning inflation and a volatile global economy dethrone this cheese-crusted behemoth?
A landmark class action case that accuses Domino’s of underpaying tens of thousands of staff has kicked off in the Federal Court.
Pizza giant faces allegations that drivers and in-store staff were underpaid up to $11 an hour or $10,000 a year. The claim,which Domino’s disputes,could be worth tens of millions of dollars to low-paid workers employed at franchise stores.